A Rise in the Price of Pepsi That Causes a Household

question 75

Multiple Choice

A rise in the price of Pepsi that causes a household to shift its purchasing pattern toward Coke and away from Pepsi is the ________ effect of a price change.

• A) income
• B) substitution
• C) complementary
• D) diminishing marginal utility

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Definitions:

Public Figure

An individual who has public prominence or notoriety and is often recognized in public and media domains.

Sanctioned

Approved or authorized by an official authority, or conversely, measures taken by a country or organization against another to restrict trade or official relations.

Sentiment Analysis

The use of natural language processing and text analysis to identify, extract, and study subjective information and emotions from textual data.

Social Listening

The practice of monitoring digital channels to understand how people are talking about a brand, topic, or industry, often using special software to gather insights.